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Apple Boosts Quarterly Revenue Guidance on Strong iPhone Sales

apple_logoAlongside today's announcement that it sold a record-breaking nine million iPhone 5s and iPhone 5c models over the launch weekend, Apple made a regulatory filing with the U.S. Securities and Exchange Commission revealing that it now expects revenue and gross margin for the current financial quarter to come in at the high end of its previously issued guidance.
On September 23, 2013, Apple Inc. (the "Company") announced that it has sold over nine million new iPhone 5s and iPhone 5c models, just three days after the launch of the new iPhones on September 20.

Apple expects total company revenue for the fourth fiscal quarter to be near the high end of the previously provided range of $34 billion to $37 billion, and expects gross margin to be near the high end of the previously provided range of 36% to 37%.
Apple's fourth fiscal quarter of 2013 runs through September 28, and the company will report earnings for the quarter in the latter part of October.

Apple's stock is currently up over 6% in pre-market trading.

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Posted: 12 months ago
So much for that "Apple artificially restricted supply" argument.
Rating: 9 Votes
Posted: 12 months ago
I'm a little surprised the stock is up 6% in pre-market trading. I thought Apple's stock always dropped with good news, because analysts always expect the impossible.
Rating: 6 Votes
Posted: 12 months ago

I don't think this has anything to do with restricted supply. This number reports the number of iPhones sold, not delivered. It could very well be that 8 million are on back order. I likely won't see the two iPhones I bought this weekend until late next month.


Except Appple can not claim they sold any iPhones until they are delivered - from their 10-K they recognize revenue

The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collection is probable. Product is considered delivered to the customer once it has been shipped and title and risk of loss have been transferred. For most of the Company’s product sales, these criteria are met at the time the product is shipped. For online sales to individuals, for some sales to education customers in the U.S., and for certain other sales, the Company defers revenue until the customer receives the product because the Company retains a portion of the risk of loss on these sales during transit.

Yhus for the 2 iPhone you are waiting on Apple will not recognize revenue until they are in your eager hands. :-)
Rating: 5 Votes
Posted: 12 months ago
They just can't survive without Steve. :rolleyes:
Rating: 4 Votes
Posted: 12 months ago
Works for me
Rating: 3 Votes
Posted: 12 months ago
And this is exactly what people need to remember when a new product is announced and they declare it a flop based on AAPL dropping the day of the announcement.

In the end, panicked reactions on message boards mean nothing, it all comes down to actual sales. And the millions buying are a very different crowd than the much smaller group of folks posting on message boards like this one.
Rating: 2 Votes
Posted: 12 months ago
At $37B revenue and 37% margin, they are looking at about $13.5B in profit for the quarter compared to about $8.5B in the same quarter a year ago. They are also looking at $3B more in annual profit for fiscal 2013 versus fiscal 2012.

Not bad Apple. Keep it up and the cash assets will match the market cap in six years unless the stock price corrects upwards in a big way.
Rating: 2 Votes
Posted: 12 months ago

So much for that "Apple artificially restricted supply" argument.


I think if Apple can sell-out 9 millions under "artificially restricted supply", they can sell like double without that :p.

Samsung S4 'sell-in' for ~ 10 millions in around 1 month after released. It may be under 5 millions to user hand. Samsung shipped 70 million mobiles in 2013 Q1, but according to reports, only around 14% are high-end Galaxy, the rest 86% are mainly low-end phones, which may even running Android 2.x.

It's quite impressive already for Apple selling that good even though many people complained a lot after its announced.

What can you expect?
Rating: 1 Votes
Posted: 12 months ago

Gene Munster from Piper Jaffray and Keith Bachman from BMO Capital, both said that a lot of 5C sales were into the retail channel.



Morgan Stanley also said that most 5C sales were into the retail channel? Looks like a trend.

As for the lone statistic that diverges, do you mean the one from the mobile ad marketing firm, Localytics?

Ad figures have rarely, if ever, accurately reflected sales... or even often come close. All they show is how many times one of their affiliates serve up one of their ads. Such reports are basically nothing but self-serving ads for their own ad network.


Well, it seems like Morgan Stanley's numbers diverge from Piper Jaffrey and Bachmann as well. What is their methodology? Channel checks? Retail checks? I don't put much stock in their methods either ... after all, these guys routinely miss (by a big margin) quarterly iPhone numbers too.

As for the analytics firm, yes, that's the one. I don't put a lot of faith in the number either, but it's completely opposite of the Wall Street analysts.

The truth is probably somewhere in the middle.
Rating: 1 Votes
Posted: 12 months ago

I'm a little surprised the stock is up 6% in pre-market trading. I thought Apple's stock always dropped with good news, because analysts always expect the impossible.


Except this time, they achieved the impossible.:D
Rating: 1 Votes

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